Save with the Section 179 Tax Deduction near Batavia, IL
Get that new or used vehicle you’ve been eyeing for your business before the year ends! With the due date for filing your 2017 taxes fast approaching, our Nissan dealership near Batavia, IL, wants to help you save big. That’s why we’re reminding you about the Section 179 Tax Deduction, which allows you to receive tax breaks on the new-to-you vehicle you leased or financed for your business. Check out some of the rules pertaining to this tax deduction, then visit Gerald Nissan of North Aurora to find your company’s next new ride!
Before you apply for a Section 179 tax break, there are a few pieces of information you should know. Your Nissan must be used for business purposes at least 50% of the time. If you plan to use it for personal matters for a certain percentage of the time, the depreciation limits will be reduced accordingly. When you opt for a Nissan sedan like the Nissan Sentra, Maxima or Murano, the total deduction for depreciation is limited to $11,060. If you choose to finance or lease a van or truck like the Nissan Titan, your total deduction for depreciation is capped at $11,160. To qualify, your company must have been founded in 2014 or earlier, and you need to have been in business for at least two years. Although the vehicle will be titled in your company’s name instead of your own, both parties must have favorable credit.